Bitcoin has settled in Sports Betting for good

Sports betting outside the legal framework

The United States legislature made Sports betting a proper nightmare since the introduction of PASPA which made fiat currency sports betting illegal in some states, while the small number of states that legalized it is facing issues with transferring the winnings from online betting platforms. Since Bitcoin is not under any government’s jurisdiction, all transactions are anonymous, and you don’t have to provide any private information in order to gamble with cryptocurrency – it’s easy to see why Bitcoin Sportsbooks are the future of online sports betting.

Increase of the Bitcoin Sports Betting Market

According to Toshi Times, bitcoin is on the rising trend as a sports betting currency. There are several reasons for the upward-trending of cryptocurrency gambling which include the inception of automation in Bitcoin sports betting thus enabling the game providers to further expand their offer. Furthermore, the fact that the entire user experience is online-based facilitates betting for players that live in countries where wagering on sports events is illegal or heavily taxed. Simply put, Bitcoin sports betting is equally beneficial for both game providers and players, equally.

BTC sportsbook in Sports Betting restricted areas

Bitcoin usage is not bound to any geographical area, which means you can use Bitcoin for any purpose, wherever you might be at that moment, disregarding your citizenship or residence. Since most of the governments ban online sports betting, the introduction of BTC sportsbook platforms allows people who would like to test their luck with sporting events to do so, despite the legislative ban. Bitcoin doesn’t fall under the conventional gambling bans because restrictions focus on fiat currency, and the anonymity provided by blockchain technology, which is the essence of cryptocurrency, allows players to deposit and withdraw funds without the inclusion of any personal information.

Offshore Sportsbooks VS Pure Bitcoin Sportsbooks

The main difference between offshore sportsbooks and pure BTC Sportsbooks is in the currency you bet with. With the offshore option, you deposit BTC which then converts to fiat currency (most often $US) and when you wish to withdraw funds, the fiat converts to BTC again. On the other side, Pure BTC Sportsbook platforms like FortuneJack allow you to deposit, place bets, and withdraw cryptocurrency, thus avoiding any losses during conversion. Furthermore, most Offshore Sportsbooks have KYC (Know your customer) policy, while Pure BTC platforms let you place your bets completely anonymously, without any concern of having your activities being tracked.

Bitcoin is a natural extension of Sports Betting platforms for reasons we discussed in this article. It provides comfort, avoids geographic and legislative constraints, and gives you the anonymity required for safe betting experience.